1. Ensure you have a contingency fund which will take care of your living expenses which can be equivalent to 6 months of your salary/income. 2. Plan for Adequate health insurance as employer-provided health insurance coverage might not be enough as people keep changing jobs and you will not be covered post-retirement. Health insurance might be denied during old age due to lifestyle diseases and age-related illnesses. Hence, take health insurance when you don’t require it. 3. Term insurance is a non-negotiable cover for every breadwinner of the family and it provides Replacement Income to the family in case the earning person is no more, this is non-negotiable and has to be availed by every individual to protect his family. 4. Planning for Children’s education (both UG & PG) is critical. Educational inflation is one of the highest and with higher aspirations of studying abroad, it is important that you plan for this most important milestone for your child well in advance. An educational loan can be handy but having a corpus for this will reduce the burden on the child as well as on the parent. 5. Retirement Corpus must be planned by most Indians as it was the most ignored goal as per a survey conducted by PGIM RETIREMENT SURVEY. With a majority of the working population does not have a formal pension system, it is critical to plan for it to ensure a good standard of living post-retirement years as we are going to live longer than the previous generation.
Venkataramana C Certified Financial Planner Growth By Discipline. Helping You Get Where You Want To Be. Get in touch today! Call 99520 19605 https://championwealthcreators.in/ . . . . . #championwealthcreators #financialplanning #wealthcreation #mutualfunds #investmentmanagement #retirementplanning #protectionsolutions #riskmanagement #taxsaving #retirementplanning #criticalillness #taxsavings #childrenfund #retirementplanning #wealthmanagement #assetmanagement #investments #investmentmanagement #investing
